Uzbekistan and Kuwait are strengthening their economic ties, with trade turnover increasing fivefold.

The trade volume between Uzbekistan and Kuwait has surged more than five times over the past five years. This growth is primarily attributed to mutual supplies of food products, chemical goods, and services. This information became available following the meeting of the Uzbek-Kuwaiti intergovernmental commission on trade, economic, and scientific-technical cooperation, which took place on November 21 in Tashkent.

During the meeting, attended by the Minister of Investments, Industry, and Trade of Uzbekistan, Laziz Kudratov, and the Minister of Finance and State Minister of Economy and Investments of Kuwait, Nour Suleiman Al-Fassam, agreements were reached regarding the planned development of an industrial cooperation program and a bilateral investment agreement. A memorandum was signed to simplify trade procedures.

The parties discussed the prospects for expanding cooperation in the banking and financial sector, the participation of Kuwaiti companies in Uzbekistan's privatization program, as well as in agriculture, tourism, transport, and logistics. Special attention was given to the development of Uzbekistan's free economic zones as an attractive venue for Kuwaiti investments.